10 Personal Finance Rules School Doesn't Teach You

What did you learn about personal finance in college? Credit? Investing? Money Management? Or did you only take the courses that were mandatory for you to graduate? Well, for most people these classes were more or less pointless, just like calculus, astronomy and anthropology.
In today’s video, we are going to share with you, 10 things school didn’t teach you about money.

#FinancialWisdom

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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.

[txtrang]

We're not taught any of these things, because of the 3 reasons. The system wants us to:
1 -- Be faithful employees
2-- Loyal consumers.
3-- Addictively reliant on credit.
Did I miss something?

[ericworthington]

Buying Your 1st Home
Save, Save, Save
Emergency Fund
Budgeting Basics
Compound Interest
Secrets of Credit
Rules of Insurance
Taxes
Guard Your Health
College Debt Isn't 100% Neccessary

[georgerobinson]

Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.

[tomgerstein]

So sad I was never taught what was important such as investing, they were so focused on finding the x than teaching how to grow real wealth.

[rightprofit]

Formal education will make you a living; self-education will make you a fortune.

[Talkinglife]

Takeaways:
*Personal finance is the background for all financial success
*Have good savings habit..
*Reduce expences
*Have emergency fund

[JadeTrading]

I took finance classes at the university and they didn't teach me anything useful other than working for a company :( So now I'm starting from the bottom learning finance basics and trying to achieve financial freedom as soon as I can. That's why I made this channel! We should all learn how to be a financially independent person instead of totally relying on the companies.

[jesusesmentira]

Parents should be teaching finance not schools as real world examples are more relevant. My father had me counting his "tips" (restaurant worker) rolling them up in coin wrappers, writing his bank account number and writing up the deposit slip. Eventually he had me making deposits and balancing his check book. And this started when I was in 3rd grade. US schools only "teach" rote memorization so you can pass tests.

[Curiosityaholic]

A 10 minute video clarified how I should act with money better than any high school class I’ve taken

[modernadulting]

Saving money, budgeting, and having emergency funds is one of the most important.

[drewconway]

7:04 That’s not what umbrella insurance is. Umbrella insurance is used for coverage in excess of existing policies, or for perils that those other policies don’t cover. It is not a substitute for other forms of insurance (auto, homeowners, life, etc.).

[layasmithxx]

Got bored and started missing school & homework, so I started taking notes on this video.. I would get an A!

[maidendumpsterfire]

Just watched this for school. This video taught me more about money than anyone or anything has taught me in my life combined

[danikeebler]

I don't understand how we can teach math geometry and calculus but never teach how to do money math that every person needs for daily living. We need money math for the rest of life.

[PassiveIncomeTom]

*Great tips about items we didn't learn in school. Self education will make you rich.* 😉

[jayabacromby]

Do not buy a house larger than you need. Stay home.
No one has ever bought a new car. You my test drive a new car, but once you sign for a new car it becomes a used car. Twenty to twenty five percent deprecation as soon as you sign. New car equals higher ins rate. Higher taxes. Pay for shipping. Buy 2-3 yrs old. Just the car you need.
If you need a cell phone for work, get them to pay. You can live without one. Really you can. It just takes better time management.
No tattoos.
Learn to cook. Better food, much less cost. Cook extra for dinner, take the rest for lunch next day.
Coffee is brewed at home.
Consult the web for info on how to DIY. Repairs are easy when you know how to do them.
Invest your money. Small savings. Enough for emergency that's it.
No funds, or pros to do it for you. Too many fees. Buy the stocks they have in their funds that pay dividends, and reinvest them. A large expenditure is needed sell some stock. Treat stocks like a savings account. Sell only if you must.
What I have described here is not what saved it's what that money becomes that makes the difference.
Best of luck

[ubonrat]

Best advice I ever read was Rich dads definition of asset & liability, don't spend your life paying off liabilities

[billyblackmon]

18 months before I retired I put all but $18 a week from my salary at my second career into maxing our Roths, maxing my company IRA including the extra allowed due to age and a regular account at Schwab. we had a pension from my first career, some VA money and two SS checks (I waited till 67 years old) Got every single thing from cars to house paid off. When I told my wife I was finally retiring she panicked. (she never paid attention to how I handled money) "how will we survive?" she said. I don't know baby can you handle a huge raise? I still see every cost per month x 12 from Paramount + to Disney. we use Amazon a lot but pay the Prime card 3 times a week. I have a large deductible to become somewhat self insured on cars and house with cash reserves to handle an emergency.

[saramejia]

Some basic tips I learned for saving money in college for first year's:
- Do not go into the most expensive dorm. Ask on your college's reddit thread about the cheapest dorm with the best living conditions. If you were thrown into one, you can change it - and they'll refund you the surplus amount if you switch to a cheaper one (or at least, they should)
- Don't get an unlimited meal plan, you're not going to use it as much-- trust me. Check your college reddit thread for the meal plan people actually get. Sometimes meal plans are optional, and if you don't get one you'll be saving a lot of money. Sometimes paying at the dining centers out of pocket is cheaper than paying for the meal plan. Do the math on it

[Jumpman]

Well I did do the math and if you double a penny every other day for 30 days it's not even close to $30 million. After 30 days it would only be worth $163.84.